Illinois Tool Works Q3 GAAP EPS $2.55 Beats $2.46 Estimate, Sales $4.03B Miss $4.09B Estimate
Portfolio Pulse from Benzinga Newsdesk
Illinois Tool Works (NYSE:ITW) reported Q3 earnings of $2.55 per share, beating the analyst consensus estimate of $2.46 by 3.66%. This is an 8.51% increase from the same period last year. However, the company's quarterly sales of $4.03 billion missed the analyst consensus estimate of $4.09 billion by 1.47%.
October 24, 2023 | 12:01 pm
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NEUTRAL IMPACT
ITW's Q3 earnings beat estimates but sales missed, which could lead to mixed market reactions.
ITW's earnings beat could boost investor confidence and potentially drive the stock price up. However, the sales miss could offset this positive sentiment and create uncertainty, leading to potential volatility in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100